Podcast
Questions and Answers
What is the primary goal of transacting parties in a transaction cost analysis?
What is the primary goal of transacting parties in a transaction cost analysis?
- To conduct the transaction in an economically efficient manner (correct)
- To prioritize site specificity in the supply chain
- To minimize their interactions with suppliers
- To outsource all non-core activities
What is the definition of outsourcing in the context of supply chain management?
What is the definition of outsourcing in the context of supply chain management?
- The process of managing supply chain activities in-house
- The process of negotiating with multiple suppliers
- The contractual delegation of a service or an activity to an internal supplier
- The contractual delegation of an in-house service to an external supplier (correct)
What is the first level of supply chain specificity, according to TCE?
What is the first level of supply chain specificity, according to TCE?
- Frequency specificity
- Uncertainty specificity
- Physical asset specificity
- Site specificity (correct)
What type of specificity involves equipment with unique design features that have lesser economic value in other usage?
What type of specificity involves equipment with unique design features that have lesser economic value in other usage?
What is the primary benefit of a supplier working with a single client, according to TCE?
What is the primary benefit of a supplier working with a single client, according to TCE?
What type of uncertainty involves variables like input prices and consumer confidence?
What type of uncertainty involves variables like input prices and consumer confidence?
What is an example of physical asset specificity in supply chain management?
What is an example of physical asset specificity in supply chain management?
What is an example of dedicated assets?
What is an example of dedicated assets?
What are the three principal attributes of transactions, according to TCE?
What are the three principal attributes of transactions, according to TCE?
What type of uncertainty involves predicting the behavior of one exchange party in an unanticipated event?
What type of uncertainty involves predicting the behavior of one exchange party in an unanticipated event?
What is an example of temporal specificity?
What is an example of temporal specificity?
What is the result of learning-by-doing processes?
What is the result of learning-by-doing processes?
